Tax Credits for Homebuyers
Congress has passed a bill extending and expanding the tax credit on new home purchases. So, if you're looking for your first home or a current homeowner looking to make a change—now is the time buy!
Who's eligible?
- First-time buyers with a contract on a home priced up to $800,000 by April 30 and close by June 30, 2010 will receive a tax credit of $8,000.
- Income limits for claiming the credit are increased to $125,000 for individuals and $225,000 for couples.
- NEW! Tax credit of $6,500 to current homeowners who wish to buy a new home and have lived in their current home for five of the last eight years.
For more information on the tax credits, see the IRS's section on Homebuyer Credit.
Also, check out Langley Financial Services, LLC for Homeowners Insurance products.
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